Assignment 2 Solution ECO404 Managerial Economics 2016

Mian AamirFebruary 3, 2016

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Assignment No 2 solution will be opened on Feb 3, 2016 and due date of assignment submission will be Feb 9, 2016.

Assignment 2 Solution

b) Assume that the industry output is organized into a cartel. Calculate the industry price/output combination that will maximize profits for cartel members. (Note: As a cartel, industry MR=P=3.5 – 0.0001Q and MC=P=0.00003Q)

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